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The Emirates Blockchain 2021 Initiative: Innovation in the UAE

October 28, 2019

It’s no secret that the United Arab Emirates is positioning itself at the forefront of Dubai and UAE company formation, making it easy to do business. But its quest to innovate is not limited to the private sector, as the Emirati government has strived to adopt “future industry.” According to Emirati Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, the choice to do so is to make the country a leader in the adoption of new technology. Among the innovations that the UAE has chosen to embrace fully is blockchain. How are the Emirates leading the way? Here are the details. What is blockchain technology? IBM defines blockchain technology as “a shared, immutable ledger for recording transactions, tracking assets and building trust.” The blocks

Is the World Facing a Global Diamond Shortage?

August 19, 2019

Commodity trading has always been a contributor to Dubai’s economy. Within the commodities sector, the diamond industry has been one of the primary industries that has flourished over the years. Despite this, studies and statistics show that the global diamond market will lose about 15 million carats, which translates to more than 10% of the global natural diamond supply. This decline will continue over the next decade, even if global jewellery demand continues to increase by one to two per cent annually. Although growth in jewellery consumption may slow due to trends in the US and Chinese markets, there will be a natural diamond shortage that will lead to severe price fluctuations. The prices for colourless diamonds less than five carats have

Is Dubai’s Current Economy Favourable for New Businesses? A Study

August 6, 2019

Dubai is an emirate that has undergone a tremendous change in its economic positioning over the past five decades. Under the visionary rule of its leaders, the city has become a global business hub that boasts of a highly dynamic and diversified economy. Today, Dubai is one of the world’s largest offshore businesses and re-exporting centre with a strategic location that connects the East with the West. Years of statistical data shows that the city has grown beyond expectations through brilliant economic planning that spanned over the years. With low operational and logistical costs, liberal tax policies and an international outlook, Dubai were able to achieve a great degree of diversification and a stronger economy. Recent financial projections, for instance, shows that

The Dubai 10X Initiative

May 18, 2018

AN INITIATIVE OF DUBAI FUTURE FOUNDATION “Always being 10 years ahead of other world cities – thinking out of the box” His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai called on all Dubai Government entities to embrace disruptive innovation as a fundamental mantra of their operations and to seek ways to incorporate its methodologies in all aspects of their work. Disruptive innovation refers to exploiting available technologies to deliver new or existing services in radically different ways that are design-thinking-based and customer-focused, in contrast to incremental innovation, which focuses on making good services better for existing customers. Instead, disruptive innovation will create new operating and business models that replace traditional

A Changing Mindset, a Shift in Power – Female Entrepreneurship in Dubai

June 22, 2017

Leading the way in assisting offshore start-ups and new FDI business ventures, Dubai based Europe Emirates Group have witnessed a sea-change in female entrepreneurship over recent years. Outdated cultural stereotypes lag way behind the reality – today, female entrepreneurs across the Middle East are in fact outperforming their counterparts in other parts of the world. For example, 33% of female-run businesses in the UAE generate revenues in excess of USD $100,000, compared to just 13% in the USA. According to Dr Amina Al Rustamani, Group Chief Executive Officer of TECOM Group, the key to this power shift is a matter of mindset and outlook – less on the part of the “establishment”, but more in the minds of the female

Supporting Dubai’s New Generation of Female Business Owners

May 28, 2017

Empowerment, entrepreneurship and growth…Holding two thirds of public sector posts in the UAE and almost a third of senior decision making positions in the government sector, the changing role of women in Dubai mirrors the Emirate’s explosive growth in recent decades. Turning popular misconception on its head, Dubai is at the global forefront of female empowerment and entrepreneurship in the business sector. As one of Dubai’s leading specialists in assisting offshore start-ups and new FDI business ventures, Europe Emirates Group (EEG) is perfectly placed to support female entrepreneurs looking to set up a new business in the Emirate. In keeping with Dubai SME’s commitment to empowering women entrepreneurs and business leaders, Europe Emirates Group are offering a wealth of local